Division of Labor Dividing a huge task into several smaller tasks Increases efficiency/productivity Which is quicker… 1 person moving 30 desks across the.

Slides:

Advertisements

Similar presentations

Economics Chapter 1 Section 2.

Advertisements

The American Economy What are the major factors and theories that determine how people and businesses make economic decisions in the USA?

Specialization and voluntary exchange

What Is Economics? CHAPTER 1 SECTION 1: An Economic Way of Thinking

Interdependence and the Gains from Trade PRINCIPLE #5: Trade Can Make Everyone Better Off!

Unit 3 Markets: not just for fleas and stocks!

Developing Teacher Leaders By Manley Midgett North Carolina Teacher Academy 909 Aviation Parkway, Suite 700 Morrisville, NC 27560

4 Main Industries in Atlantic Canada. Primary Industry  Jobs that come from natural resources.  Ex: fishing, mining, forestry, and farming.  Can you.

Economic Systems and Economic Tools Chapter 2

Key Concepts Productive resources include natural resources, human resources and capital. These resources are used to produce goods and services like food,

What is Economics? Chapter 1. Basic Definition Study of how people try to fulfill their wants through the use of scarce resources.

American Economic Experience 8/18  EQ: What will I need to be successful in this class?  Bell Work: Sit at your desk from yesterday I ’ ll give you anything.

What is specialization? Specialization is when an individual or a company specializes in doing one part of a task, and relies on others to complete the.

UNIT 4: ECONOMIC CONNECTIONS. Types of Industries  The JOBS that people do can be divided into four categories: 1. Primary Industries 2. Secondary Industries.

Gains from Trade. Is it better to be awesome at one thing or awesome at many things? Why or why not?

Cell Growth Section 10-1.

Some Tools of the Economist Chapter What Shall We Give Up?

Production and Efficiency. Content Specialisation Division of labour Exchange Production and productivity Economies of Scale Economic Efficiency.

Reflection What is the difference between variable costs and fixed costs? What is the goal of producers? What is the incentive for producers to sell? What.

WHAT DO I WEAR TO 8TH GRADE DAY?

Economics Basic Economics. What is Economics?  It is the study of how individuals and nations allocate their scarce resources for the fulfillment of.

Tertiary industry workers earn their living in retail trade, service-oriented jobs and government The largest tertiary industry is the business and personal.

Economic Types Fish Sticks!!!Wait what?. Will Get to the fish sticks later… Yesterday we looked at different economic systems. Lets discuss the question.

Opportunity Cost The Next Best Alternative. The Opportunity Cost of doing something is the value of the next best alternative you give up. What is the.

GAINS FROM TRADE Specialization, Comparative, and Absolute Advantage.

Vocabulary Assembly line- A line of workers all assigned to a different task in order to create a final product. Specialization- Focusing of resources.

Learn More, Earn More.

Chapter 19 Review 56 Slides in 45 minutes 40 Question Test Time is a valuable economic resource don’t waste it.

Goal 7 Individuals and Economic Choices. Basic Factors of Production Land (property plus natural resources on property) Labor (contribution of human workers)

Literacy in History/Social Studies, Science, and Technical Subjects College- and Career-Ready Standards Implementation Team Grades 6-12 Quarterly Meeting.

Productivity, Absolute Advantage and Comparative Advantage, Specialization and Trade Unit 1 Lesson 3 by Advanced Placement Economics Teacher Resource Manual.

Needs & Wants A WORKING WORLD GOODS: Things that people make or grow. Examples include: shoes tires food.

Starter Write and answer these questions? 1.Why do revenue bills begin in the House of Reps? 2.Who is the commander-in-chief of the US military? 3.What.

Social. What’s the tertiary sector? The tertiary sector consists of activities that provide a service, such as selling consumer products. We use many.

ESSENTIAL QUESTIONS: HOW CAN BUSINESSES AND INDIVIDUALS MAKE GOOD ECONOMIC DECISIONS? HOW DO THE GOALS OF CONSUMERS DIFFER FROM THE GOALS OF PRODUCERS?

Chapter 2 section 3 Absolute Advantage means being able to do something using fewer resources than other producers require. Law of comparative advantage,

Lesson 1.7 Specialization and Exchanges SSEF3 A. GIVE EXAMPLES OF HOW INDIVIDUALS AND BUSINESSES SPECIALIZE. SSEF3 B. EXPLAIN THAT BOTH PARTIES GAIN AS.

WHAT DO I WEAR TO 8 TH GRADE DAY?. BOYS (oops) YOUNG MEN “Church-type clothes: Slacks, collared shirt, belt, DRESS shoes”

WHAT CAN COLLEGE DO FOR YOU? Planning for the future.

Chapter 4 Gaining From Trade. Question Is it better to be good at doing a lot of different things or to be great at one thing? Should people specialize.

Chapter 3 Productive Resources Productive Resources - is made up of four ( 4) things 1. Human resources - workers, labor, skills 2. Natural Resources -

Economics introduction

Wage And Salary Administration

What is specialization?

Productivity and Economic Growth

Economics Review Week!.

Economic Activity 19.2.

Sponge: Monday, August 22 Using your textbook, define scarcity. Give an example for each of the following: how individuals have to deal with scarcity.

Ideas for Today and Tomorrow

Book Factory: Book = 8 pages + 1 title + page numbers + paper clip

Basic Economic Concepts

Vocabulary Assembly line- A line of workers all assigned to a different task in order to create a final product. Specialization- Focusing of resources.

Industrial Training Provider ,

CHAPTER 4 Gains from Trade.

Specialization and Voluntary Trade

Specialization, Voluntary Exchange and Division of Labor

What is Economics Chapter 1.

Comparative Advantage

WHAT GOES INTO MAKING A PRODUCT?

Bell Ringer-Matching Game

Plenary cards For any lesson.

Europe’s Economy.

How has a market economy impacted lives in the U.S. throughout history? Division of Labor/ Specialization.

Economic Growth & PPF.

Warm Up – April 29 Answer the following questions on a post it:

Book Factory: Book = 8 pages + 1 title + page numbers + paper clip

Presentation transcript:

Division of Labor Dividing a huge task into several smaller tasks Increases efficiency/productivity Which is quicker… 1 person moving 30 desks across the room, or 30 people each moving 1 desk ?

What are some more examples of division of labor?

Division of Labor

Specialization Doing one task really well because it is done over and over

Specialization How do you think specialization increases efficiency and productivity?

Specialization Specialization: people/companies learn and practice a small set of skills then work or trade with others with different skills to produce something –Improves efficiency/productivity –The assembly line idea

Why does specialization work? Skills are developed at a deeper level –people become “experts” in their field Costs are cut because time needed to produce is decreased Training can be more focused and in-depth Remember: People, Stores & industries specialize

Examples of specialization Doctors – cardiologists, dermatologists, dentists, podiatrists, rhinologists

Examples of specialization Teachers – grade level, subject, coaches Stores at the mall – food court, hats, electronics, shoes, clothes Write two examples of specialization in each of these areas: –RestaurantMovie Courts

How does specialization relate to voluntary exchange? Because we specialize, we rely on others for the things we don’t produce (CAUSE AND EFFECT!) In an exchange, BOTH sides are looking to gain something BOTH sides gain in VOLUNTARY, NON- FRAUDULENT EXCHANGE

How does each side gain in these potential transactions? LAWYER

How does specialization increase efficiency and productivity?